Aeva Technologies launches $100 million follow-on stock offering

Aeva Technologies Inc. (NASDAQ: AEVA) announced a proposed follow-on public offering of $100 million in common stock shares. The company also expects to grant underwriters a 30-day option to purchase up to an additional $15 million of shares at the public offering price less underwriting discounts and commissions.

The offering is subject to market and other conditions, with no assurance regarding completion, timing, or final size and terms. Aeva stated it plans to use net proceeds for general corporate purposes, including meeting commercial interest in AI infrastructure and Co-Packaged Optics, along with growing demand for existing applications.

Morgan Stanley, Goldman Sachs & Co. LLC and Oppenheimer & Co. are serving as book-running managers for the offering.

The securities are being offered under an automatically effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. A preliminary prospectus supplement and accompanying prospectus describing the offering terms will be filed with the SEC.

Aeva develops sensing and perception systems, focusing on lidar-on-chip technology integrated with system-on-chip processing and perception algorithms. The company's 4D LiDAR sensors detect velocity and position simultaneously for applications in automated driving, manufacturing automation, smart infrastructure, robotics and consumer devices.

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